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tv   [untitled]    June 26, 2012 3:00pm-3:30pm PDT

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provides $150 million in available credit with annual costs not to exceed $1 million for the duration of three years. should be selected banks be unable to meet contract requirements, the general manager is further authorized to select the next lowest cost better. >> as a reminder, the sfpuc has a commercial program for waste water enterprise that serves as the financing option. the first item proposes new dealer agreements with four firms to serve as dealers for the waste water commercial paper. these new agreements are meant to replace the ones expiring next month. we will market our paper to investors at the lowest cost possible. the second item proposes a three-year agreement to support
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the recently increased waste water commercial paper program. these agreements to serve as a security pledge to the investors in our commercial paper in the event that we are not able to repay them. it is essentially security backing for the commercial paper program. the i just have a few slides to share with you. the agreements we have shared with you are essentially identical to the ones we have shared with you previously. there is virtually no change. in terms of the facility, i want to spend time talking to you about this. we have a commercial paper program for waste water enterprise. in december of last year, you approved an increase to the commercial paper program of $150 million of $300 million.
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in january, we brought forward a new agreement to back the first $150 million program. the facility is working as expected. what is before you today are two new agreements for the second $150 million. assuming that action is taken today, we will have the four agreements in place of $75 million each. the slide shows a little bit of a comparison and i want to share this with you. what is being proposed is, in the first column, for union bank agreements for $150 million, it is 0.65%, $975,000 a year. the fee will be covered by the waste water capital program. the term is for three years.
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i will speak a moment about the downgrade protection. the other two colonies show you a comparison of the agreements we have with j.p. morgan and u.s. bank. also with the prior agreement of the water enterprise. as it relates to the bank hundred protection, that is an important thing. they provide us with the ability to terminate the agreement. i want to pause here to reiterate the importance of adequate bank ratings. you may have heard about moody's downgrading several banks last week. we have an agreement with bank
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of america for $250 million, not what is before you today, but for the water enterprise. because of the downgrade, the provision allows us to terminate the agreement. we're currently looking for a replacement credit facility with another bank and will report back to you on replacement alternatives. i want to show you how all diligently are being to keep an eye on these ratings and the action that will take to fix those ratings. it is an important clause that we wanted to make sure was important. >> any questions? is there any public comment? >> so moved. president moran: moved and
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seconded. all those in favor? opposed? item 17. >> authorizing the general manager to execute a grant agreement from about not to exceed $100,000 with the total duration of 12 months to provide a living library at think parts education programs. president moran: thank you. mr. moala. >> good afternoon, commissioners, i'm the general manager for waste water. this particular item as part of the educational process. this is the support for san francisco unified school district. educating kids on the importance of trees and conservation of water. all of those issues.
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this is an investment for 20 years from now. we feel important about this work, normally, there would be one that they want to administer, we felt it was an important piece for as far as educating our kids. president moran: any questions? commissioner caen: great idea. president moran: any public comment. can i take that as a motion? all those in favor? opposed? item 18. >> authorize the general manager to execute a grant agreement with the seventh is the school alliance to not exceed $100,000 during fiscal year 2012-2013 for the related outcomes of the
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power services and operations to the green school program. >> assistant general manager, this is another educational effort. this item would authorize the general manager to execute an agreement with the greens schools alliance. and this partnership to sell more, more intentional educational initiatives to support the placement of members that attend the unified school district. the alliance is going to work really closely with the different enterprises here to be able to identify the benchmarks and out comes that kids kindergarten through fifth grade would experience a based on these members. it is part of a larger effort. we're trying to court made the regional efforts of that we can
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tell the kindergartners will all learn that. they all go to the waste-water facility. working with the school district, and that is the strategy we are supporting to make sure the kids hit out comes tied to priorities. president moran: any questions? commissioner caen: great idea. [laughter] president moran: all those in favor? opposed? item 19. >> of proven and increase the contingency in the amount of $196,454 for $255,867 of up to 84 consecutive calendar days for contract for the waste water facilities efficiency improvements.
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to authorize the general manager or the designee to improve any further modifications not to exceed $850,000, and for the contract duration not to exceed 834 consecutive calendar days. >> the item before you is to enable us to complete the energy efficiency and improvements. we packaged it to modify the contingencies of that we don't have to come back for five times for change orders. we are seeking this today, 218 different fixtures that apply for this modification. and have it paid back within eight years. president moran: any questions or public comment? moved and seconded.
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all those in favor? oppose? we are about to go in the closed session, is there any public comment on matters to be discussed in closed session? seeing them, can i have a motion on whether to assert attorney- client privilege? all those in favor? oppose? the item carries. we will now go into -- you need to call the closed session items. >> conference with property negotiator pursuant to the government code section and administrative cudahy. prop. 520, persons negotiating and the other party under negotiations price in terms of payment. conference with legal counsel pursuant to california
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government code and san francisco on administrative code. item 24, pursuant to a government code section 54957. to consider public employee appointment hiring for the position of general manager of the san francisco public utilities commission. will double and a closed session. -- go into closed session.
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